Skip to navigationSkip to content
Alessandro Cripsta

Good evening.

The New Purpose of Companies

Living things, black markets

Reflecting on Volcker's rule

They don’t make central bankers like Paul Volcker anymore. The towering economist battled sky-high inflation while leading the Federal Reserve during the Carter and Reagan administrations. He returned to the political forefront during the global financial crisis as Obama's point man on reducing bank lending risks. He has died at age 92.

They don’t make central bankers like Paul Volcker anymore

When I was working full time on Wall St Volcker was a bit of a hero of mine. He was a true patriot and very astute. I often reading his occasional op-ed. I had hoped he was going to be involved more in the Obama administration. Unfortunately the the nature of central banks has changed a lot since his

When I was working full time on Wall St Volcker was a bit of a hero of mine. He was a true patriot and very astute. I often reading his occasional op-ed. I had hoped he was going to be involved more in the Obama administration. Unfortunately the the nature of central banks has changed a lot since his days and they have massively contributed to the record wealth gaps, something I'm surprised gets little press. Its sadly ironic that this last week people have been paying, $120,000 for bananas duck taped to a wall at this year's Art Basel, highlighting how dysfunctional monetary policy is. In fact if you are the wrong side of the wealth divide, the USD is quickly becoming worthless hence crazy stories like at Art Basel. I would expect current interest in gold and bitcoin to conti ue to pick up. People have long spoken about the demise of the dollar (not me, I thought it would survive a while), but now I'm finally seeing some important signals. By 2030 I'd be very surprised if its still the Global reserve currency, which means the next financial crisis will likely be the game changer, and/or a highly strategic move by China such as the introduction of a gold backed digital currency. Hopefully we will be done with fiat currencies...

It's hard to imagine a central banker upsetting the stock market for a single day, now. let alone taking the economy into a recession for 25 years of stable inflation.

The illusion of privacy

Beyond the fintech hype

Deep-pocketed investors are pouring money into fintech companies, but which are for real and which will fade? Quartz's latest field guide surveys ten unicorns to explain what's changing in financial services, and what's just driven by fear of missing out. ✦

Beyond the fintech hype

Is there a fintech bubble? Our guide uncovered a distinct fear of missing out among investors—venture capital funds are shoveling cash into money losing startups, and even more money into the few that are profitable.

A few themes emerge from the haze of hype: many of the most valuable fintech startups

Is there a fintech bubble? Our guide uncovered a distinct fear of missing out among investors—venture capital funds are shoveling cash into money losing startups, and even more money into the few that are profitable.

A few themes emerge from the haze of hype: many of the most valuable fintech startups are in emerging markets, as investors hope to make bundle by extending financial services to people who have traditionally lacked them.

Another theme is that many of these companies have unremarkable business models. Among them are banks, brokers, and payment companies. They seem more like finance companies that tech companies. If that's right, they should be valued accordingly.

This paragraph stands out: "Perhaps the most surprising thing about the most highly valued fintechs is how ordinary some of them are. They usually rely on software that’s hosted in the cloud, and their apps have whizzy interfaces. Otherwise, many of them act a lot like regular financial companies. They

This paragraph stands out: "Perhaps the most surprising thing about the most highly valued fintechs is how ordinary some of them are. They usually rely on software that’s hosted in the cloud, and their apps have whizzy interfaces. Otherwise, many of them act a lot like regular financial companies. They process payments, take deposits, make loans, and, in one case, provide brokerage for stock and options trading."

The only thing that matters is how secure these companies are and what risk management policies and controls are in place. How it is done is immaterial. Just my opinion but the biggest value the fintech sector provides is spotlighting the potential of new technologies. The best will be bought by real

The only thing that matters is how secure these companies are and what risk management policies and controls are in place. How it is done is immaterial. Just my opinion but the biggest value the fintech sector provides is spotlighting the potential of new technologies. The best will be bought by real banks. As an aside my banks already provide all the services I need on a global basis. Additionally my accounts are insured and regulated.

Arguably a fintech could provide services in underbanked markets but then they become banks and should be treated as such.

Gender equality in sickness and in health

The gig is up

It's TikTok's world

Need a New Year's resolution?

Celebrate making it to the end!

Close

There’s one tech giant doing crypto right. Rather than propose a new digital currency as the savior of the financial system, Square has embraced what already exists: bitcoin.

Read more on Quartz

Featured contributions

  • Perhaps he can do something to address how much computational resources—and huge electricity consumption—Bitcoin sucks up. Far from being a “green” technology, Bitcoin uses as much energy (for processing the transactions, computing the hashes, and mining of new Bitcoins) as Switzerland! At 0.25% of global

    Perhaps he can do something to address how much computational resources—and huge electricity consumption—Bitcoin sucks up. Far from being a “green” technology, Bitcoin uses as much energy (for processing the transactions, computing the hashes, and mining of new Bitcoins) as Switzerland! At 0.25% of global energy use and growing, that’s a lot of power consumed for something most people on the planet have never used. Bitcoin is a modern-day Gold Standard, and that it’s such a darling of the libertarian folks should cause major concerns amongst anyone who is not already rich.

  • Distributed architectures create scale and resilience - such is the case with the internet and bitcoin: it’s very hard for a single actor to control or cause it to collapse.

    But distributed architectures also create a governance challenge: in the in internet example, who gets to decide what content

    Distributed architectures create scale and resilience - such is the case with the internet and bitcoin: it’s very hard for a single actor to control or cause it to collapse.

    But distributed architectures also create a governance challenge: in the in internet example, who gets to decide what content is appropriate for global distribution? And on the currency side, who gets to shape monetary policy?

    Gold used to be the underpinning of that monetary policy check and balance. Bitcoin makes energy and computing power that theoretical maximum of what can be circulated. But politicians worldwide will be reluctant to give up the ability to just keep expanding government debt and printing money to pay for it.

More contributions

  • He may get a fair amount of gruff for the way he's handling content on Twitter, but Jack Dorsey's stewardship of his other company, Square, has been generally problem-free. His comments on crypto underscore someone who is acting very thoughtfully, at least when people's finances are involved.

  • Square is helping fund development of the Bitcoin network by employing notable contributors, and that investment should show substantial returns. Crypto networks evolve through software updates (e.g. the Bitcoin lightning network can be loosely equated to fractional-share trading which Square recently

    Square is helping fund development of the Bitcoin network by employing notable contributors, and that investment should show substantial returns. Crypto networks evolve through software updates (e.g. the Bitcoin lightning network can be loosely equated to fractional-share trading which Square recently introduced to its Cash app). Square can use these folks as a bellwether for such developments and beat the competition to market.